Manchester City will spend in the transfer window to find a "quality" replacement for striker Sergio Aguero and to improve the squad, chairman Khaldoon Al Mubarak has revealed.
Argentina international Aguero, City's all-time topscorer with 260 goals, played his last game in the Champions League final defeat to Chelsea and has joined Barcelona on a two-year deal after a decade-long spell at Etihad Stadium.
"We lose a very important legend in Sergio Aguero," Al Mubarak told mancity.com. "They are very hard shoes to fill, but I'm confident that we will find the right player to fill those shoes.
"There are other areas within the group, within the team that obviously need investment. Not too many. It's not about numbers, it's about quality.
“I think the squad is a phenomenal squad. You don't win the Premier League and you don't reach the Champions League final if you don't have an incredible squad, and we have that.
"One of the things I've learned over the years is you need to constantly bring in talent into the team, refresh and particularly when you are at a high level and when you're on the top."
City won their third league title in four years this season, finishing 12 points ahead of rivals Manchester United.
Al Mubarak said City, who also won the League Cup, will not stand still despite their domestic success.
"Having won the league, it is not the time to sit back and be content. That would be your biggest mistake," he said.
"This is the time to send a strong message, that there's no contentment, that you're not satisfied with just winning the league.
“That's great, but you want to win it again and you are committed and you are bringing more talent that is going to compete, not for the squad, but for the starting XI."
On the disappointment in Porto, he added: "I feel very proud of what this team has accomplished.
"When you reach a Champions League final – the pinnacle in football, the pinnacle of sports – I think it is an incredible achievement, a remarkable season by any description.
"But it is also a culmination of years of hard work to reach a level of consistency, a level of expectation that this club has reached now – which is a club that will compete year in, year out.
"You can't win every year but year in, year out we are going to be there. It is about going forward and, whenever we have setbacks, regrouping and coming back stronger.
"As sad as we all are at losing the Champions League final, we will be back in that final and more importantly [with] these titles we will always be there, that I promise."
Man City 2020/21 season ratings
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MANCHESTER CITY 2020/21 RATINGS: Pep Guardiola 8.5 - After his worst start to a season as manager, 2020/21 ended up being one of the finest of the Catalan's trophy-laden career. Guided City on an incredible 21-win streak, retained the League Cup for a fourth-straight season and wrestled back the Premier League trophy from Liverpool. Guided City to a first Champions League final, but got his team selection against Chelsea badly wrong. -
GOALKEEPERS: Ederson 8 - As a last line of defence, few inspire as much confidence. As the first point of attack, fewer are as comfortable passing the ball as the Brazilian. -
Zack Steffen 7 - Took his chances in various cup competitions well. The American pulled off a superb save in the League Cup final to deny Giovani Lo Celso. -
DEFENDERS: Kyle Walker 8 - His power and aggression shows no signs of waning. City's right-back is still a formidable force. EPA -
Ruben Dias 9 - The Portuguese is undoubtedly the signing of the season after joining last summer from Benfica. Has brought a calm and assuredness long missing from City's backline. Named both the club's and FWA Player of the Season. Has improved John Stones as a player, too. Reuters -
John Stones 8 - The writing looked to be on the wall for Stones with Dias signing at the start of 2020/21. But the Englishman has been a colossus for City this term, so much so that Aymeric Laporte has been relegated to back-up. -
Nathan Ake 5 - The Dutchman signed for a reported £41 million from Bournemouth has failed to make an impression during his first season at the Etihad. A centre-back and left-back position was up for grabs at the start of the campaign but others have often been preferred ahead of the former Bournemouth defender. -
Aymeric Laporte 7 - The Frenchman has largely had a watching brief as Dias and Stones formed an impregnable partnership. His headed winner against Tottenham ensured City retained the League Cup for an unprecedented fourth year in a row. AFP -
Benjamin Mendy 6 - The Frenchman has fallen down the pecking order at City and looks a shadow of the rampaging full-back from a few seasons ago. -
Joao Cancelo 8 - Did not look comfortable when asked to operate at left-back in the opening game but the young Portuguese has improved immensely and is also one of City's most potent attacking weapons. Badly missed in the Champions League final. Reuters -
Eric Garcia 4 - Has found first-team opportunities hard to come by and looks on the verge of ending his three-year stay in Manchester. -
MIDFIELDERS: Ilkay Gundogan 9 - Mr Reliable became Mr Spectacular in 2020/21 with some dazzling displays, particularly at the turn of the year in the absence of Kevin de Bruyne. A haul of 12 Premier League goals is impressive and a testament to Guardiola's faith in playing without a recognised No 9. -
Oleksandr Zinchenko 6 - Used sparingly by Guardiola but a tidy operator with the ball. Was outstanding against PSG in the Champions League semi-final second leg. At fault for Kai Havertz's winner in the Champions League final defeat, though. -
Rodri 9 - It's hard to believe the Spain international is still only 24. Commands the middle of the pitch like a gnarled veteran and his omission from the team in Porto against Chelsea raised eyebrows. -
Kevin De Bruyne 9 - The Belgian is quite simply the best passer with either foot in the division. Once again the creative fulcrum in City's march to a fifth Premier League title in nine years. Season ended in heartbreak when he was forced off injured in the Champions League final defeat to Chelsea. -
Bernardo Silva 7 - The Portuguese has failed to match the highs of the previous two seasons but is a workhorse who Guardiola always turns to in big games. -
Fernandinho 7 - the Brazilian picked up a record sixth League Cup winner's medal and his form in the run-in had many banking him for a starting place in the Champions League final. His introduction after an hour showed Guardila got his selection all wrong. AFP -
Riyad Mahrez 9 - If there is a player with a better first touch in the Premier League he is being well hidden. The Algerian's goals have propelled City in their quest for for three trophies, including a brace against PSG that took them to a first Champions League final. -
Phil Foden 9 - The 20-year-old has enjoyed a sensational season to the point that David Silva's departure has barely been noticed. Has a bright future ahead at the Eithad. -
FORWARDS: Raheem Sterling 6 - Has suffered a crisis of confidence, according to his manager, but has still played a huge part in City's success. Anonymous in the Champions League final and substituted midway through the second half despite City needing a goal. -
Gabriel Jesus 7 - Has suffered, for lack of a better word, from Guardiola's use of a false 9 but the Brazilian is one of City's hardest-working players. Reuters -
Sergio Aguero 6 - Injuries and recovery from Covid-19 blighted the Argentine striker's final season at City. The club's record scorer signed off a decade at the club with two Premier League goals on the final day of the season. Will be remembered as one of the league's best ever. -
Ferran Torres 7 - Has adapted well to the demands of the Premier League but looks far more comfortable in a wide position than as a false 9.
Al Mubarak also discussed the positive relationship he enjoys with manager Pep Guardiola, who has now won eight trophies in the five years since his arrival and signed a new two-year contract in November.
“This partnership has been a great partnership,” he said. “He’s in the right environment, he's got the right infrastructure around him. We have the greatest trust and the greatest relationship, and we've achieved so much.
“So, I think the journey goes on and it will go on as long as Pep is happy and we are happy.
“To the Man City fans, I tell you, just be positive, be confident, enjoy these moments, look forward to the next season and we'll take it one season at a time.”
